Business
OPINION: As Africa rises, so should her status globally
By Abdirahman Takhal
It has been argued that globalization in itself does not produce poverty and inequality. The main obstacles that entwined with globalization are the rules and regulations that govern it. These rules are fundamentally unjust since the rich-states’ interests can not be reconciled with those of the poor and weaker developing countries. Hence, this is why many in Africa believe the current world order is nothing more than new form of colonization. As Africa is rising, particularly in the economic and technological sectors, its power and influence should increase alongside.
It is true that many African nations have been run by undemocratic, incompetent, and self-serving tyrants, which consequently resulted, in part, Africa’s exclusion from discussions of the key global issues. But, the West’s denial of Africa’s rightful democratic representation in the decision-making process within the international institutions such as the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO), all of which are the cornerstones of the current trend of the globalization, are seen more of a rejection of Africa then cooperation with the continent as some suggest.
This negative feeling among Africans is confirmed by a recent survey done by United Nations Economic Commission for Africa (UNECA) that shows majority of respondents – 57 percent believe the current economic governance structures as not fulfilling their effective participation in the global economy.
Skeptical
According to the study, African Least Developed Countries are even more skeptical, with staggering two-third of respondents expressing the view of the current global governance does not allow for their effective participation in norm setting in the key financial, monetary and multilateral institutions.
For instance, almost a quarter of the IMF’s member states come from sub-Saharan Africa – 45 countries, yet the total voting power of this bloc is estimated to only 4.4 percent. Even in the decisions that directly affect them, Africans lack the power to sway votes toward their direction; instead, they rely on other developing countries to help them secure sufficient support for their position. Such humiliating treatment of the African states is, in part, why Africans believe the developed world are keeping them to be reliant on them, rather than see a self-reliant Africa.
Seat At The Table
Considering Africa’s growth in economic and technological areas, the continent should be rewarded its rightful seat on the table, global leadership stage. The main reason that Africa should be an important stakeholder, not just important follower, of the world affairs is its impressive economic growth. This is evident in the finding of The Economist that over the ten years to 2010, the top six of the world’s ten fastest growing economies were in sub-Saharan Africa.
The south western African nation of Angola, a country devastated by civil war and violence against women and children in the 1990s, now tops the list, while Nigeria, Africa’s most populous country, was forth fastest growing economy. Even more impressive, during the same period, the African countries outpaced economically their Asian counterparts, a trend that will continue at least through 2015.
